By way of example, there is a conventional multi-layer piezoelectric element comprising: a stacked body configured so that piezoelectric layers and internal electrode layers are alternately laminated; and an external electrode composed of a sintered material of both electrically conductive particles and a glass, the external electrode which is bonded to a side surface of the stacked body and makes electrical connection with the internal electrode layers. The external electrode used therein is, as disclosed in Patent Literature 1, obtained by firing a coating of an electrically conductive paste containing electrically conductive particles such as silver particles and glass. That is, the external electrode can be formed by coating the electrically conductive paste onto the side surface of the stacked body and then performing firing thereon. Moreover, an external lead member for applying voltage to the external electrode is fixedly connected to the surface of the external electrode with use of solder, an electrically conductive adhesive, or the like.